TIGA, the trade association representing the UK games industry, today commented on new figures released by PricewaterhouseCoopers showing the potential of the gaming sector when compared against other UK creative industries including film, music, TV, radio, publishing and advertising.
PricewaterhouseCoopers predict 10% growth over the next four years in the value of the video games market. By 2014, the overall value of sales of PCs, consoles, games software and related expenditure, including advertising, could be worth $5.3 billion, up from $3.8 billion in 2009.
Dr. Richard Wilson, TIGA CEO stated: The figures released today show the games industry could enjoy continued sales growth for the next four years, with the value of the market exceeding some other creative industries. However, burgeoning UK sales figures do not necessarily mean that the UK video game industry will prosper. In fact, TIGAs research shows that between July 2008 and July 2009, 15 per cent of UK video game businesses went out of operation. This is because many other territories, including the USA, Canada and France, enjoy tax relief and financial incentives at a state or national level that encourage investment, production and jobs to leave the UK and locate elsewhere. Unless the UK Coalition Government acts to ensure the UK operates on a level playing field through the introduction of Games Tax Relief for UK developers, our own industry here in the UK will shrink in the years ahead rather than grow.
These figures clearly demonstrate the potential of the video games industry and its ability to grow. When it comes to making games the UK boasts one of the most talented and creative workforces in the world. We should be able to capitalise on the growth of the industry, but without Games Tax Relief this will not happen. I urge the new Coalition to seize the opportunity to ensure that the UKs high-tech, high skills, and low carbon video game development industry is able reach its full potential.
